Real Estate Properties - (Tables)

12 Months Ended

Dec. 31, 2016

Real Estate Properties

Schedule of summarized income statement information for the seven MOBs that meet the criteria for discontinued operations included in discontinued operations

Summarized income statement information for the four MOBs (seven buildings) that met the criteria for discontinued operations is included in discontinued operations as follows:

	For the year ended December 31,
	2016		2015			2014
Rental income	$	—	$	56		$	3,949
Property operating expenses	—		(406		)	(2,587		)
(Loss) income from discontinued operations	$	—	$	(350	)	$	1,362

Senior Living Communities

Real Estate Properties

Schedule of real estate property acquisition

The table below represents the purchase price allocations (including net closing adjustments) of the senior living community acquisitions described above.

Date	Location	Leased / Managed	Number of Properties		Units/ Beds	Cash Paid plus Assumed Debt(1)		Land		Buildings and Improvements		FF&E		Acquired Real Estate Leases		Other Liabilities			Assumed Debt			(Premium) / Discount on Assumed Debt
Senior Living Community Acquisitions during the year ended December 31, 2016:
May 2016	Georgia	Managed	1		38	$	8,400	$	327	$	6,195	$	478	$	1,400	$	—		$	—		$	—
June 2016	4 States	Leased	7		545	112,493		11,085		94,940		6,468		—		—			—			—
December 2016	Illinois	Leased	2		126	18,600		1,814		13,377		1,087		2,323		—			—			—
			10		709	$	139,493	$	13,226	$	114,512	$	8,033	$	3,723	$	—		$	—		$	—
Senior Living Community Acquisitions during the year ended December 31, 2015:
May 2015	11 States	Leased	18		2,119	$	459,184	$	29,716	$	373,471	$	21,117	$	54,096	$	(18,091	)	$	(44,395	)	$	(1,125	)
May 2015	5 States	Managed	19		1,233	313,345		12,267		214,064		12,342		73,840		—			(94,785		)	832
September 2015	NC	Leased	1		87	17,548		1,134		13,749		1,022		2,208		—			(12,297		)	(565		)
Subtotal 38 senior living communities portfolio			38		3,439	790,077		43,117		601,284		34,481		130,144		(18,091		)	(151,477		)	(858		)
May 2015	GA	Managed	—	(2)	40	9,750		993		8,169		427		161		—			—			—
September 2015	GA	Leased	1		84	18,409		3,479		14,021		909		—		—			—			—
			39		3,563	$	818,236	$	47,589	$	623,474	$	35,817	$	130,305	$	(18,091	)	$	(151,477	)	$	(858	)
Senior Living Community Acquisitions during the year ended December 31, 2014:
December 2014	WI	Managed	1		52	$	7,000	$	188	$	5,862	$	101	$	849	$	—		$	—		$	—
December 2014	WI	Managed	1		176	40,430		2,615		34,957		588		2,270		—			—			—
			2		228	$	47,430	$	2,803	$	40,819	$	689	$	3,119	$	—		$	—		$	—

(1) Cash paid plus assumed debt, if any, excludes closing costs. With respect to the June 2016 acquisition of seven senior living communities and the September 2015 acquisition of one senior living community in Georgia that are being accounted for as asset acquisitions, these amounts include the cash we paid as well as various closing settlement adjustments and closing costs. The allocation of the purchase prices of certain of our 2016 acquisitions shown above are based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. The final amounts allocated to assets acquired and liabilities assumed may differ from the preliminary allocations presented in these consolidated financial statements upon the completion of (i) third party valuations and (ii) our analysis of acquired in place lease and land and building valuations.

(2) This senior living community is adjacent to another community that we own which is managed by Five Star. The operations of this community and the community we previously owned are now conducted as a single integrated community under one management agreement.

MOBs

Real Estate Properties

Schedule of real estate property acquisition

The table below represents the purchase price allocations (including net closing adjustments) of the MOB acquisitions described above.

Date	Location	Number of Properties	Square Feet (000's)	Cash Paid plus Assumed Debt(1)		Land		Buildings and Improvements		Acquired Real Estate Leases		Acquired Real Estate Lease Obligations			Assumed Debt			Premium on Assumed Debt
MOB Acquisitions during the year ended December 31, 2016:
February 2016	Minnesota	1	128	$	22,700	$	4,028	$	14,710	$	5,053	$	(1,091	)	$	—		$	—
May 2016	Florida	1	166	45,232		2,792		42,440		—		—			—			—
October 2016	Ohio	1	96	18,500		1,025		12,883		4,592		—			—			—
		3	390	$	86,432	$	7,845	$	70,033	$	9,645	$	(1,091	)	$	—		$	—
MOB Acquisitions during the year ended December 31, 2015:
January 2015	12 States	23	2,170	$	531,623	$	50,429	$	397,637	$	87,780	$	(3,150	)	$	(29,955	)	$	(1,073	)
		23	2,170	$	531,623	$	50,429	$	397,637	$	87,780	$	(3,150	)	$	(29,955	)	$	(1,073	)
MOB acquisitions during the year ended December 31, 2014:
April 2014	TX	1	125	$	32,932	$	3,141	$	23,142	$	7,672	$	(10	)	$	(15,630	)	$	(1,013	)
May 2014	MA	1	1,651	1,129,652		52,643		792,146		403,282		(118,419		)	—			—
		2	1,776	$	1,162,584	$	55,784	$	815,288	$	410,954	$	(118,429	)	$	(15,630	)	$	(1,013	)

(1) Cash paid plus assumed debt, if any, excludes closing costs. With respect to the property located in Florida that is being accounted for as an asset acquisition, this amount includes the cash we paid as well as various closing settlement adjustments and closing costs. The allocations of the purchase prices of certain of our 2016 acquisitions shown above are based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. The final amounts allocated to assets acquired and liabilities assumed may differ from the preliminary allocations presented in these consolidated financial statements upon the completion of (i) third party valuations and (ii) our analysis of acquired in place lease and land and building valuations.